Annual UK property price growth – highest since Sept 2007, figures show
Annual UK residential property prices in England and Wales have remained positive for six months in a row with a rise of 8.5% in April, the highest yearly change since September 2007, new figures show.
The monthly rise from March to April was 0.2%, taking the average UK property value to £165,596, the data from Land Registry’s flagship House Price Index shows. Based on actual UK property sales, it is regarded as the most reliable of the regular indices to be published.
All regions in England and Wales experienced increases in their average property values over the last 12 months. The region with the highest annual house price change is London with an increase of 14.8%, the seventh consecutive months of price growth. The monthly change house prices in London is 1.6%, bringing its average property value to £341,487, compared with the average for England and Wales, which stands at £165,596.
In London the borough of Kensington and Chelsea saw the highest annual property price growth at 21.2% while Camden saw the highest monthly price growth at 3.3%. The region with the smallest annual price rise is Yorkshire & The Humber with a movement of 0.7%.
The North East experienced the greatest monthly rise with a movement of 3.1%.
These UK property figures are consistent with other recent property price indices. The latest one from Nationwide showed a 1% month on month increase in prices and 10.5% annual growth. Halifax reported a 0.1% monthly growth and year on year growth of 8.8%.
- Source Propertywire